Bitcoin Shorts May Soon Get “Trapped” as Bulls Slow BTC’s Descent

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Bitcoin’s price has found some stability following the recent market-wide selloff that helped send it down from highs of $11,200 to lows of $10,400 Bulls are ardently guarding against it seeing further near-term downside at the present moment There is a possibility that sellers will be able to continue pushing the market lower in the near-term, as turbulence within the stock market is providing an ideal background for bears to operate against One analyst is noting, however, that the cryptocurrency’s muted response to the immense selling pressure seen heading into BTC’s daily close is a positive sign He even notes that this could indicate that a push higher is imminent, and that bears will soon see their short positions get “trapped” Bitcoin and the entire cryptocurrency market are caught within a bout of sideways trading at the present moment. It is important to note that altcoins are firmly following in…

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